Daiwa Securities Group Inc. Purchases 6,060 Shares of EQT Co. (NYSE:EQT)

Daiwa Securities Group Inc. increased its position in shares of EQT Co. (NYSE:EQT) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,924 shares of the oil and gas producer’s stock after acquiring an additional 6,060 shares during the quarter. Daiwa Securities Group Inc.’s holdings in EQT were worth $1,389,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EQT. Wellington Management Group LLP lifted its stake in EQT by 61.9% in the third quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock valued at $798,923,000 after buying an additional 7,526,875 shares in the last quarter. Vanguard Group Inc. lifted its stake in EQT by 8.6% in the third quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after buying an additional 3,539,661 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in EQT by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after buying an additional 1,098,211 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in EQT by 4,257.7% in the third quarter. Los Angeles Capital Management LLC now owns 800,066 shares of the oil and gas producer’s stock valued at $32,467,000 after buying an additional 781,706 shares in the last quarter. Finally, Fiera Capital Corp bought a new position in EQT in the third quarter valued at approximately $28,017,000. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT opened at $37.98 on Wednesday. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 8.94 and a beta of 1.12. EQT Co. has a 1-year low of $30.84 and a 1-year high of $45.23. The company’s fifty day simple moving average is $36.06 and its 200 day simple moving average is $37.99. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. On average, research analysts forecast that EQT Co. will post 1.07 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be issued a dividend of $0.1575 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.66%. EQT’s payout ratio is 14.82%.

Wall Street Analyst Weigh In

EQT has been the topic of a number of research reports. Scotiabank raised shares of EQT from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $40.00 to $52.00 in a research note on Thursday, April 11th. Piper Sandler lowered their price objective on shares of EQT from $47.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Truist Financial lowered their price objective on shares of EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. Finally, Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.38.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.